Homework Answers
| The common stock will always be shown at par value. | |
| As 62000 new shares are issued by taunton to Eubanks, | |
| Consolidated amount of common stock = $240000+$62000 | |
| =$302000 | |
| First option is the correct answer. |
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Prior to being united in a business combination, Taunton Inc. and Eubanks Corp. had the following...
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following...
Prior to being united in a business combination, Atkins, Inc., and Waterson Corporation had the following stockholders’ equity figures: Atkins Waterson Common stock ($1 par value) $ 184,000 $ 122,000 Additional paid-in capital 92,000 58,500 Retained earnings 317,000 120,000 Atkins issues 70,750 new shares of its common stock valued at $4 per share for all of the outstanding stock of Waterson. Immediately afterward, what are consolidated Additional Paid-In Capital and Retained Earnings, respectively?
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Prior to being united in a business combination. Atkins, Inc., and Waterson Corporation had the following...
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Pintime Industries Inc. entered into a business combination agreement with Sydrolized Chemical Corporation (SCC) to ensure...
Pintime Industries Inc. entered into a business combination agreement with Sydrolized Chemical Corporation (SCC) to ensure an uninterrupted supply of key raw materials and to realize certain economies from combining the operating processes and the marketing efforts of the two companies. Under the terms of the agreement, Pintime issued 181,100 shares of its $2 par common stock in exchange for all of SCC’s assets and liabilities. The Pintime shares then were distributed to SCC’s shareholders, and SCC was liquidated. Immediately...
Savod Help Save & Exit Subm Pintime Industries Inc. entered into a business combination agreement with...
Savod Help Save & Exit Subm Pintime Industries Inc. entered into a business combination agreement with Sydrolized Chemical Corporation (SCC) to ensure an uninterrupted supply of key raw materials and to realize certain economies from combining the operating processes and the marketing efforts of the two companies Under the terms of the agreement, Pintime issued 180,300 shares of its $2 par common stock in exchange for all of SCC's assets and liabilities. The Pintime shares then were distributed to SCC's...
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objective question On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business...
objective question
On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share, for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: Poe Saxe Common Stock Additional Paid-In Capital Retained Earnings $3,000,000 1,300,000 2,500,000 $6,800,000 $1,500,000 150,000 850,000 $2,500,000 In the December 31, 20X3, combined balance sheet,...
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objective question
On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its $10 par common stock, with a market price of $18 a share, for all of Saxe's common stock. The stockholders' equity section of each company's balance sheet immediately before the combination was: Poe Saxe Common Stock Additional Paid-In Capital Retained Earnings $3,000,000 1,300,000 2,500,000 $6,800,000 $1,500,000 150,000 850,000 $2,500,000 In the December 31, 20X3, combined balance sheet,...
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